Dems Call for Higher Taxes After Credit Downgrade

Standard & Poor’s decision to downgrade the nation’s credit rating reinforces Democrats’ call for increasing tax revenue, Senate Majority Leader Harry Reid (D-Nev.) said Friday.

In a statement, Reid said:

The action by S&P reaffirms the need for a balanced approach to deficit reduction that combines spending cuts with revenue-raising measures like closing taxpayer-funded giveaways to billionaires, oil companies and corporate jet owners. This makes the work of the joint committee all the more important, and shows why leaders should appoint members who will approach the committee’s work with an open mind – instead of hardliners who have already ruled out the balanced approach that the markets and rating agencies like S&P are demanding.




Post Continues on thehill.com




Posted in Politics, Taxes Tagged with: , ,
91 comments on “Dems Call for Higher Taxes After Credit Downgrade
  1. Patrick Henry says:

    Please tell Harry Reid to suspend all of the members of Congress Pay….That would raise revenue….Waste right there….

    • Mike from Colorado says:

      Amen to that brother…I have written to my Senators and Congressmen on that same concept and surprisingly I have received no responses. I swear once they get elected and start commuting into the Washington Beltway and start drinking the DC water their brains start to shrink. AMERICA needs to WAKE-UP!!!

    • patriot4life says:

      Harry Reid is a CRIMINAL OF LOWEST ORDER AND SO ARE THE REST OF THOSE DEMORATS!!!….. PATRIOTS WE MUST TAKE OUR COUNTRY BACK POLITICALLY!!… WE MUST TAKE THE SENATE 2012 , PLEASE RALLEY THE TROOPS AND VOTE OUT ALL DEMORATS … TIME TO RISEUP FELLOW PATRIOTS AND REMOVE THESE SCUMBAGS ONE AT A TIME!!.

    • bob miller says:

      and this twerp funded "Cowboy Poetry" and subsidized intra state flights with 2 people aboard—–and what's with that lament about his pomgranate tress and rose bushed—what a panty waist

    • Bob Basher says:

      you know I truly beleive there are many of us that do not have a clue as to how much money a TRILLION DALLARS IS….Even in $100.00 dollar bills there is no way you could count 1 trillion in your lifetime..impossible if I had 1000 dollars and then had another 1000 id have 2 thousand now if I had 1000 dollars a 1000 times that would be a million dollars…..Now if I had a Million dollars woohoo…..and had it 1000 times then i would have a billion and i could ever be able to count a billion but if i had it….and then had a 1000 billion….i would have 1 trillion dollars….wnd we just allowed our government to spend another 2 and a half trillion..thats a billion dollars a thousand times and then having again a billion dollars a thousand times…ad then having a billion more dollars 500 times…and this is money borrowed…or worse printed….so much printed its like a pie….

    • Bob Basher says:

      part2
      …our economy has a certain amount of pieces in that pie…each piece has a value…now when you print money like we have…and it will soon be released into the market we now have more pieces of the pie making each peice worth less or each piece of pie is now smaller to fit all the newly sliced or printed money thats why gas id going up….its ot big oil its the value of our dollar…oil is bought by all countries in american dollars…and since the dollar is worth a little less the more money is printed and put in circulation the mre everything costs….oh the media wont tell you that and buying gold wont help you if eveything collapses…your gold unless you have it in hand will never be gven to you…its stored and would be confiscated by government in crisis

  2. patriotic nut says:

    Figures the Dems would think that S&P was telling them to raise our taxes. Either they are completely blind to the fact that no matter who's taxes they raise, the very wealthiest of Americans, the middle class gets to pay them in the form of higher costs for consumer goods or services, or they are attempting to ruin our country by bankrupting it and everyone in it. I tend to believe, because of all their actions thus far, that the latter is true.

    • dingbat36 says:

      They could take (confiscate) every cent of the assets of the American public and still not be able to pay of the national debt. Of course that would also mean that there would be nothing left to grab, therefore they prefer to attempt to bleed us just a bit at a time.

      That was NOT the reason for the S&P downgrade anyway, the report specifically said that the government has provided no plan for REDUCTION in spending which the real problem. Raising the debt ceiling was just the "trigger" for the S&P downgrade…………..and they have SAID they may do it again!!

      Our debt to GDP ratio is going up………….The responsible western countries are on the opposite track. The ratio of debt to GDP is going DOWN in Canada, Germany, England and even FRANCE. Nothing will change until we clean our (government) house in 2012!!

      • Colleen says:

        You have it exactly correct. Unfortunately, the majority of our "ruling elite" haven't a logical thought in their collective heads. They are the most self serving greedy jerks I have ever seen.

    • me1537 says:

      They to stupid to realize that having millionaires pay higher income taxes will do nothing. There are many millionaires because of the wealth they own. That does not mean they make a million dollars in income per year.

    • Robert Dinkle says:

      That is simply not true. Corporations are forced by competition where to set the price. If they pay higher tax, they will have to lower CEO pay.

      • Are you unwilling to understand or just refuse? If taxes are raised, on all corporation (thats what you want, right?) the if one company has to raise their prices they all will. If you think only one will raise prices and none of the others, you are living in a bubble and do not understand markets.__Please learn something before posting.

      • Barbara says:

        In your dreams! Don't you understand that If every corporation has it's taxes increased then they will ALL raise their prices, competition not withstanding?

  3. Harry says:

    The reason for the group of 12 was to cut out the voice of the people (The Tea Party).

  4. Jim says:

    Harry Reid is, without a doubt, the dimmest light bulb in Las Vegas. He is a prime example of what the Unions support in order to push their agenda, country be dammed.

  5. old dad says:

    Dear patriotic nut,
    I believe you are correct except for one thing. They have already sent us down a road that has only one conclusion.
    To avoid it we would all have to work for the next 10 years for the government.
    The Dems have done the damage and we will spend the next 100 years living as a 3rd world country thanks to their socialist agenda.
    And don't forget "Its Bush's fault"

  6. wasadoc says:

    The worst part of raiusing taxes is that they will just continue to spend, spend, spend. Until they quit spending, there is no way to reduce the deficit.

    • dingbat36 says:

      When the Fundamentalist (Polygamist) branch of the Mormon church abuses the welfare system to support their bloated "families", they call it Bleeding the Beast. When the government taxes the populace (only the productive part of course) The Beast "Milks the Herd".

    • guest says:

      Wasn't that the whole point of raising the debt limit; so they could continue to spend, spend, spend? I think that is their philosopy " tax and spend". Republicans on the other hand think if we make the rich guy richer, it will trickle down to the rest of us through jobs and whatnot. To continue to do the same things and expect different results is insanity.

  7. nightlyonewolf says:

    Increasing taxes! That is the best you money grubbing leeches can think of?! You just don't get it do you! WE, the people, are tired of your inept spending habits and your ho-hum attitude towards the American way of life. We cannot afford to keep paying for your mistakes in judgement. You better pull your collective heads our of your collective behinds and figure out a better way to fix your mistakes. I, for one, am sick and tired of it and am DONE paying more taxes! We have more taxes than we have ever had before in our history and you STILL cannot manage the new income flooding into your coffers. We sit out here, in what homes we have left to afford, and watch you officials living in your mansions, wearing your high price suits, going to your high price shindigs and then you say you need to bleed us more??!! Billionaires, oil companies, and corporate jet owners are NOT the problem here. The millions upon millions of illegals leeching off us are one MAJOR problem. YOUR gross spending habits are another. Giving out monies to foreign countries is another. Federal grants given out for moronic studies is another. YOUR over inflated salaries and benefits is another….should I go on??!! OH!!….how about the, approximately, 51% who pay no taxes whatsoever??!!
    Start looking at yourselves before you come looking for what else you can take away from us. I have always known why you are trying to take our guns away from us. If you are successful?….how can we stand against you? That is what you believe. Let me tell you something. Our history/Any history shows/tells us that people revolted against governments with pitchforks and whatever they could gather into their hands to fight tyranny. To quote, "We are NOT sheep to be made mutton of!" We will not sit idly by anymore! Take heed!

    • Goodforall says:

      You forgot to mention the career welfare types getting cart blanch instead of the simple basics they need to get by. Why should people who are receive assistance be able to get whatever they wish (groceries, housing, transportation, health care) and have any desire to get off their lazy back sides and go find a job? A lot of these people live better than many of us who actually work and pay taxes. It makes me sick to see people in the stores getting whatever they want and then pulling out their "free stuff" card. I say no more free rides on the backs of the tax payers!

    • Low Chop says:

      I could not agree more.

    • RalphK. says:

      It seems that those who complain about that 51%, who pay no taxes what so ever usually mean income taxes. I would question that number as being considerably higher than reality. Even if you count the ILLEGAL ALIENS. Some of us do not pay income taxes, but that's the ONLY tax we don't pay. We pay every other tax that everyone else pays. All of the excise taxes on all of the goods that have excise taxes. Taxes on imported goods, aka tariffs. (Even the cheap stuff in Wal-Mart and 99cent or dollar stores has been taxed). Taxes, state and federal on gasoline, if we drive. And the one that none of us can escape, SALES TAX on everything except food and I heard somewhere that some dumb legislator wanted to tax that too! Those who don't pay income tax are those who are usually pretty well below the poverty level and NOT living high on the hog.

      You're right, illegals don't deserve a dime! Welfare or Food Stamps. Legals don't deserve things like Instate Tuition!

      You're right, buying oil from our enemies so they can use the money to buy weapons to use against us/US is STUPID!!
      Especially when we have our own resources!

      They have not yet taken our guns because they can't repeal the Second Amendment but, watch out for UN Agenda 21.
      Hillery and company are working hard to get the Senate to ratify that as a treaty. A backdoor gun ban. But have you noticed all of the junk in the way of anti-gun legislation. You can still buy a gun (and if you don't own a gun get one, while you still can), but informal places to shoot are becoming scarce. Magazine and ammunition restrictions. They are making it hard to exercise our RIGHT. They will try to take our guns but …. they will never get them all.

      So what would you suggest we do? 230 years ago pitch forks, torches, feathers and tar may have been useful and effective. No more.
      Voting no longer works because most of the ignorant and apathetic public continue to re-elect the same rascals. Then wonder why nothing changes. The last time many voted for "change" but never asked what kind of change.
      Those who know what is needed are too few and many of them have not the balls to do what is really necessary.

  8. Ted says:

    I think we should vote for Micky Mouse for president we already have goofy

  9. Dan Clamage says:

    Balanced approach – what a load of BS. He’s just regurgitating the same nonsense Obama spews. Why do Democrats hate aircraft builders do much?

    • hmmathis says:

      We've seen the Democrats' "Balanced Approach" in action before. They (1) raised taxes and promised to cut spending; then (2) abrogated their promise to cut spending and started spending like drunken sailors.

  10. Ihatelibs says:

    Anyone that tries to raise my taxes will have their heads blown off!

    That's why God made foreign banks.

    • Skull says:

      Thanks to Obama a new law went into effect this year from a excutive order he signed behind closed doors of course,that we Americans can not have a foreign bank account any more with out a lot of hassle and we have to go to the country ourself.Even then it takes a while you have to get a number that ok's it from the country of your choice.Also after Obama and his goons attacked the Swiss banks to get information on Americans that had money in their banks, as of this year most swiss banks will not have any thing to do with Americans opening an account in their banks.Obama is closing the doors to take money from all of us, it is comeing he is stting every thing in place, and we still just sit on our ass and let this happen in America….we are truly just a bunch of sheep being led to the slaughter.All of us just stting arounfd on computers saying baa..baaa.baaa,,, we will vote them out ….baaa bhaaa baaa …yea right the machine is broken it needs destroyed.This country will not be won back in a peacefull way so we are going down because we are to civil!!

  11. LesPaul says:

    We need a Tax Strike! We must stop funding this madness. Cut off their funds and we'll be driving the truck!

    • RalphK. says:

      Hard to do when they have "withholding".

    • Oscard says:

      That is precisely what they need. Let's see no money no spending. harry is out of his mind. Wartch them all leave Washington when there'sno free money to get them elected and buy votes. And good luck with not appointing Tea Party members to the group of 12 their in the Country said so in 2010 and will say so again in 2012.

  12. Mark Field says:

    I think we may be approaching the time where there will be no other recourse for us but to have another revolution of sorts. If we fail to remove these SOCIALIST PINHEADS next year, we will have no one but ourselves to blame. We must share all of what we know to be true with both family, friends and co-workers and encourage them to do the same. It has been and will continue to be an uphill battle because of the Liberal Media, the Liberal indoctrination minded teachers, the Liberal Socialist/Marxist run unions such as SEIU, ACORN in all of it’s new guises, the Chicken Little Enviro Nuts including that Snake Oil Saleman All Gore, George Soros who will control and crush anyone or anything for money and then just plain STUPID people who can’t seem to grasp what is happening right before their eyes. They are the ones who parrot what they hear from the MSM. These are primarily the younger voters who most likely succumbed to our Federal Education System. This has been one of the Socialist/Marxist plans from the beginning, in order for them to overthrow out government from within. This was helped by creating a brainwashed class of young people and then lowering the voting age to eighteen. The result is the election of people like Harry Reid, Nancy Pelosi, Barack Obama and the over seventy members of the House of Representatives who also happen to be documented members of the Democratic Socialists of America. These people don’t worry that someone may point out the fact that they are Socialists because our MSM is certainly not going to say anything. Several of Obama’s ‘Czars’ have also been associated with the Communist Party but after their ‘appointments’ these associations were WIPED from the Internet. How convenient.

    So you see, we have an uphill battle ahead of us. We must all get involved somehow, someway. Obama and his cohorts are not stupid as some might think. Everything that they have done or have tried to do has been for one reason. One goal. To break our country financially and to create a majority class of people who will be dependant on the government for assistance and thus guarantee the reelection of more Liberal/Socialist Democrats.

    The time to act is NOW!!!!

    • oscard says:

      It's getting there. I can smell it. Revolution time to get rid of the reids and pelosi's and ne'er-do-wells like nobama.

  13. Vince says:

    These guys are a bunch of idiots. They don't have a clue.

    First of all if they raised taxes they are only going to spend the money to buy more 'have not' votes and add more to the now 51% of the people who don't pay any taxes.

    The blame for the credit rating drop falls directly on Boehner. If he had held the line, like the voters elected him to do, They would have had to cut spending. Plan and simple. Ohio, I'd dump in 2012, for someone who listens to you.

    • Rip says:

      The credit rating was going to be downgraded anyway, it wouldn't have mattered who made what decision We need to throw S&P out along with the U.N Up until 1917 we didn't need any non governmental org. to tell U.S. how we should spend or NOT spend OUR money, abolish the Fed ! throw all the Bas—ds out and start over with some Real American citizen Patriots !

  14. Newmexicobear says:

    If the decent an moral people would get serious and cry out to GOD to help save our great nation i beleive we would see the EVIL EMPIRE that GEORGE SOROS has built start to crumble right before our eyes. GOD can remove these people better than we can if we will just call on HIM, Its time we return to trusting GOD over man.

  15. SEAN MURRY says:

    Reid is on drugs.